India's finance ministry executive to head capital markets regulator

Feb 10 (Reuters) - India has appointed finance ministry executive Ajay Tyagi as the chairman of its capital markets regulator for a five-year term.

Tyagi, who is currently an additional secretary of India’s economic affairs department, succeeds Upendra Kumar Sinha as the chairman of Securities and Exchange Board of India (SEBI).

Sinha’s three-year term began in February 2011, following which he got two extensions, making him one of the longest-serving SEBI chiefs. (Reporting by Sudarshan Varadhan in New Delhi; Editing by Greg Mahlich)